Many investors fall victim to bait and switch because they do not understand how lenders are feeling right now and what a realistic interest rate/fee structure really looks like. 

If he were employed by a company, you might be able to get wage garnishment, but that will be harder if he is an independent contractor.3) If you have a judgement, yes, but keep in mind the collection agencies usually keep 50% of collections.

Are you self employed ?

You would have to maintain the self employment activity and not have any employees other than a spouse. 

Such short term rental  will follow these criteria(see numbered list below), in order to take advantage of (1) qualifying to fill out schedule E, thus avoiding the Self-Employment tax should there be any profits. and (2) being able to offset your W2 income should there be a paper loss. 

Also be careful about any bait and switch.

Most people provide recent paystubs and/or a letter from their company HR department verifying their current employment and monthly take home pay.

Hey Adrian - There aren't many options out there for investment HELOCs, and the ones that are available will be full doc...meaning income, employment and DTI are used to qualify you.

The hiring process costs the employer a lot of money and if you don't think you will be a good fit, it is going to be an uphill battle for both you and your employer.

If you don't want to occupy, there are other options that look at the income potential of the property and do NOT factor in your income, employment history or DTI but you'll have a significantly higher minimum down payment - plan on 20% to be safe.